CONSENT OF INDEPENDENT AUDITORS We consent to the reference to our firm under the caption "Experts" and to the use of our reports dated September 10, 1998 and January 25, 1999, with respect to the consolidated balance sheet of ATEL Financial Corporation and Subsidiary at July 31, 1998, and the financial statements of ATEL Capital Equipment Fund VIII, LLC at December 31, 1998, and for the period from July 31, 1998 (inception) through December 31, 1998, respectively, included in the Registration Statement (Form S-1 No. 333-62477 to be filed on June 8, 1999) and related Prospectus of ATEL Capital Equipment Fund VIII, LLC for the registration of 15,000,000 limited liability company units. Ernst & Young, LLP San Francisco, California June 3, 1999